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German houses are not, on average, 1.2 million euro. There are plenty that are, but it really depends on your area. If you are within an hour of Frankfurt then
by cheschire 5y ago
German houses are not, on average, 1.2 million euro. There are plenty that are, but it really depends on your area. If you are within an hour of Frankfurt then much of that was driven by the influx of companies that had been preparing for brexit.
There are houses for cheaper, but they tend to be in less desirable locations. Same in America, there just happens to be way more “less desirable” places. Lots of land in the 90 minute commute radius.
In my experience Germans tend to outright dismiss options that are less than ideal, always searching for the eierlegende Wollmilchsau.
- detaro 5y agoyou are misreading the number by 10x.
- cheschire 5y agoI don't think I'm misreading 129,600, times ten, is 1,296,000. Did I misunderstand which number they were asserting was 10x? I re-read the post, still looks like they're implying a 1.2 million euro price average for housing even outside of cities.
- Nitrolo 5y agoI think they meant ten times the average income, i.e. 240.000€, which sounds about right to me, obviously going higher near big cities.
- zefool 5y agoThe average income in Germany is most certainly not in the 200Ks, and if that sounds about right to you, you need to seriously adjust your priors.
- ArtTimeInvestor 5y agoGerman houses are not, on average, 1.2 million euro. How do we check? I just went Immobilienscout and tried a random small city "Tübingen" which has a population of only 80k: https://www.immobilienscout24.de/Suche/de/baden-wuerttemberg/tuebingen-kreis/tuebingen/haus-kaufen https://www.immobilienscout24.de/Suche/de/baden-wuerttemberg... Looking at these prices, €1.2M seems like a good ballpark number.
- acdha 5y agoTübingen is a college town with a major university. I would not expect that to be especially cheap with that kind of built-in demand where anyone buying property has guaranteed rental income in a town which is close to a third students.
- ketzu 5y ago> random small city "Tübingen" Tübingen is an infamously expensive outlier. Most average costs for houses I saw online are around 250-400k€. My own hometown, Ulm (not too far from Tübingen, and a bit larger) has Houses around 500-600k in good positions (although 1mio+ houses exist as well). On a square meter basis, there are maps like this: https://www.immowelt.de/immobilienpreise/deutschland/hauspreise https://www.immowelt.de/immobilienpreise/deutschland/hauspre... giving an average of 2.6k€/m² (Tübingen being around 5k€/m²)